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U.S. Consumer Expenditures Surge by 9.0% in 2022
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Overview
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In 2022, U.S. consumer expenditures increased by 9.0% to an average of $72,967 per year. Housing and transportation were the largest contributors to the increase. The report also highlighted changes in spending patterns and the impact of factors like gas prices and remote work on transportation spending.
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How did the increase in consumer expenditures affect the overall economy?
What other factors contributed to the rise in transportation spending?
What were the implications of the shift to remote work on consumer spending?
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